Earnest Partners LLC Sells 799 Shares of InterContinental Hotels Group PLC (NYSE:IHG)

Earnest Partners LLC lessened its position in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 6.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 11,734 shares of the company’s stock after selling 799 shares during the period. Earnest Partners LLC’s holdings in InterContinental Hotels Group were worth $1,466,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Jane Street Group LLC grew its holdings in InterContinental Hotels Group by 120.2% in the third quarter. Jane Street Group LLC now owns 4,269 shares of the company’s stock worth $472,000 after purchasing an additional 2,330 shares during the period. Virtu Financial LLC acquired a new stake in InterContinental Hotels Group in the third quarter worth $470,000. World Investment Advisors LLC acquired a new stake in InterContinental Hotels Group in the third quarter worth $86,000. JPMorgan Chase & Co. grew its holdings in InterContinental Hotels Group by 29.7% in the third quarter. JPMorgan Chase & Co. now owns 320,286 shares of the company’s stock worth $35,388,000 after purchasing an additional 73,361 shares during the period. Finally, GAMMA Investing LLC grew its holdings in InterContinental Hotels Group by 40.7% in the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the company’s stock worth $182,000 after purchasing an additional 422 shares during the period. Institutional investors own 15.09% of the company’s stock.

Analyst Ratings Changes

IHG has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft upgraded shares of InterContinental Hotels Group from a “sell” rating to a “hold” rating in a report on Monday, April 14th. Citigroup began coverage on shares of InterContinental Hotels Group in a research report on Monday, February 24th. They issued a “sell” rating on the stock. Morgan Stanley downgraded InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, January 8th. Finally, Sanford C. Bernstein raised InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a research note on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, InterContinental Hotels Group presently has a consensus rating of “Hold”.

InterContinental Hotels Group Stock Up 0.8 %

Shares of InterContinental Hotels Group stock opened at $107.10 on Tuesday. The company has a market cap of $16.74 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 1.69 and a beta of 1.29. InterContinental Hotels Group PLC has a 52 week low of $91.57 and a 52 week high of $137.25. The business has a 50 day moving average price of $111.37 and a 200-day moving average price of $119.99.

InterContinental Hotels Group Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 4th will be paid a $1.144 dividend. The ex-dividend date of this dividend is Friday, April 4th. This is an increase from InterContinental Hotels Group’s previous semi-annual dividend of $0.53. This represents a dividend yield of 1.4%. InterContinental Hotels Group’s dividend payout ratio is 39.36%.

About InterContinental Hotels Group

InterContinental Hotels Group PLC owns, manages, franchises, and leases hotels in the Americas, Europe, Asia, the Middle East, Africa, and Greater China. The company operates hotels under the Six Senses, Regent, InterContinental Hotels & Resorts, Vignette Collection, Kimpton Hotels & Restaurants, Hotel Indigo, voco, HUALUXE, Crowne Plaza, Iberostar Beachfront Resorts, EVEN, Holiday Inn Express, Holiday Inn, Garner, avid hotels, Atwell Suites, Staybridge Suites, Iberostar Beachfront Resorts, Holiday Inn Club Vacations, and Candlewood Suites brand names.